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Presidential Executive Orders Removing 298 Tax Regulations
Tax Advisors would never know what was hidden in these regulations unless you conduct extensive research which we did for our members. We will be providing our twenty-five hours of research with links to the Code of Federal Regulations to our members.
Based on a preliminary review, these proposals could be very far reaching and effect a wide range of our member’s clients. These proposals deserve your immediate attention and review!
TaxConnections Members should study this very important information to make comments or request a public hearing on areas that may impact you and your clients. If you want to comment or request a public hearing you must do so before May 14, 2018.
Pursuant to President Trumps Executive Orders 13777 and 13789, the Treasury Department and the IRS conducted a review of existing regulations with the goal of reducing regulatory burden for taxpayers by revoking or revising tax regulations that meet the criteria set forth in President Trumps Executive Orders.
This Notice of Proposed Rulemaking proposes to streamline IRS Regulations by removing 298 IRS Regulations that are no longer necessary because they do not have current or future applicability under the Internal Revenue Code and by amending 79 IRS Regulations to reflect the proposed removal of the 298 IRS Regulations. The proposed removal and amendment of these IRS Regulations may affect various categories of taxpayers.